Left Menu
Development News Edition

BJP MP alleges Jharkhand govt's decision to reserve mines for JSMDC will cause huge revenue loss

BJP MP Nishikant Dubey has written to Union Mines Minister Pralhad Joshi that the Jharkhand government's decision to reserve iron ore mines in the state for ailing JSMDC will result in a considerable revenue loss of more than Rs 40,000 crore and alleged that the decision is against public interest and the National Mineral Policy.

PTI | New Delhi | Updated: 05-09-2020 14:55 IST | Created: 05-09-2020 14:55 IST
BJP MP alleges Jharkhand govt's decision to reserve mines for JSMDC will cause huge revenue loss

BJP MP Nishikant Dubey has written to Union Mines Minister Pralhad Joshi that the Jharkhand government's decision to reserve iron ore mines in the state for ailing JSMDC will result in a considerable revenue loss of more than Rs 40,000 crore and alleged that the decision is against public interest and the National Mineral Policy. Attacking the JMM-led government in the state, the BJP MP from Jharkhand said the state government will not get any revenue from the proposed move and the decision has sent out a wrong message to investors.

JSMDC is a state government undertaking and the state government's decision to reserve mines for the company is subject to approval from the Union Ministry of Mines. "The state government will be losing a considerable amount of revenue by reserving mines in favour of JSMDC. In the new regime of auctioning of natural resources, auctioning of these seven mines would have generated a good amount of revenue for the state government in terms of premium. JSMDC will not be paying any premium for mining iron ore," Dubey said in the letter to Joshi.

Dubey further said the seven mines, if they were auctioned under the new regime and not reserved for JSMDC, could have got "a good amount of revenue to the state government in terms of premium". He pegged the estimated revenue loss in terms of premium at more than Rs 40,000 crore over a period of 50 years. Alleging that the state government's decision is against National Mineral Policy, Dubey said it is not a fair and equitable distribution of resources.

Citing the track record of JSMDC, the BJP MP claimed that more than 10 coal blocks were allocated to it by the Coal Ministry but not a single block was developed by it and many of them were surrendered..


TRENDING

OPINION / BLOG / INTERVIEW

New farm bills in India: Focusing on farms or farmers?

... ...

Kenya’s COVID-19 response: Chaos amid lack of information

Confusing numbers and scanty information on how effective curfews and lockdowns have been in breaking transmission have amplified coordination and planning challenges in Kenyas response to COVID-19. Without accurate data, it is impossible t...

Farkhad Akhmedov: Calculating the price of impunity from the law

In insistences such as the battle over the Luna, Akhmedov has resorted to extreme legal machinations to subvert the High Courts decision and keep his assets from being seized. ...

Guinea’s elections hearken back to the autocracy and violence of its past

... ...

Videos

Latest News

Feds say US colleges 'massively' underreport foreign funding

A scathing report from the Trump administration on Tuesday concluded that top U.S. universities have massively underreported funding they accept from China, Russia and other nations described as foreign adversaries. The Education Department...

Agartala civic body holds screening, immunisation drive for its sanitation workers

Aiming at reducing the COVID-19 threat, the Agartala Municipal Corporation AMC, along with National Health Mission NHM, started a massive check-up drive for its workers on Tuesday. Hundreds of vulnerable frontline workers, mainly engaged wi...

San Francisco officials let people sue over racist 911 calls

Fed up with white people calling 911 about people of colour selling water bottles, barbecuing or otherwise going about their lives, San Francisco leaders unanimously approved hate crime legislation giving the targets of those calls the abil...

India's coronavirus tally climbs to 7.65 million

India has recorded 54,044 new coronavirus infections, taking its tally to 7.65 million, health ministry data showed on Wednesday. The worlds second most populous nation also has the second highest caseload, after the United States, which ha...

Give Feedback